Himalayan Reinsurance Soars to Top 7th Position in Market Capitalization and Records Highest Turnover in Eight Trading Days
Fri, Jan 19, 2024 4:51 PM on IPO/FPO News, Company Analysis, Featured,
Himalayan Reinsurance Limited (HRL) has emerged as a remarkable performer, securing the 7th position among companies with the largest market capitalization and highest turnover since its Initial Public Offering (IPO).
Distinguished as the second reinsurance company to undergo an IPO in Nepal, Himalayan Reinsurance holds the status of a pioneering private-sector reinsurance firm in the country. Its operations extend to providing reinsurance support for both Life and Non-Life Insurance Companies, not only domestically but also on an international scale. The company obtained its operational license in the year 2021.
The prominent promoters behind Himalayan Reinsurance include leading business conglomerates in Nepal and significant financial institutions. Noteworthy among these promoters are Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, Ramesh Corp, Shiv Shakti Group, Himalayan Infrastructure Fund Ltd., Shalimar Investment, Saffron CK Investments, Vaishnav Enterprises, Murarka Group, K L Dugar Group, M V Dugar Group, R H Group, M S Corp, IME Group, Prem Gurung and Group, Ashlesha Enterprises, Allied Continental, and Balaji Marbles.
Embarking on its public market journey, HRL initiated an Initial Public Offering (IPO) with shares priced at Rs. 206 premium per share, making available a total of 2.49 crore unit shares to the general public. The company's listing comprised a total of 10 crore shares on January 7, 2024, with the Nepal Stock Exchange (NEPSE) setting an opening range at Rs. 103.07 to Rs. 309.21. Notably, the stock opened at an impressive Rs. 309.20 on January 8.
| Himalayan Reinsurance Limited | |
|---|---|
| Initial Price (As of Jan 08) | Rs. 309.2 |
| Last Trading Price (As of Jan 18) | Rs. 653 |
| Price Change | Rs. 343.8 |
| Price Change (%) | 111.19 |
| High (Rs.) | 661.5 |
| Low (Rs.) | 309.2 |
| Avg Price (Rs.) | 598.2 |
| Turnover (Jan 08-18) | Rs. 2.60 Arba |
| Volume (Jan 08-18) | 4,350,227.00 |
| No. of Transactions (Jan 08-18) | 216,365.00 |
| Trading Days | 8 |
| Market Capitalization (As of Jan 18) | Rs. 65.3 Arba |
As of January 18, 2024, the current market price stands impressively at Rs. 653, reflecting a substantial increase from the IPO price of Rs. 206 per share. Over the last eight trading days, HRL has experienced a gain of Rs. 343.80 or 111.19% from the opening price of Rs. 309.20. Investors who secured shares during the IPO have witnessed a remarkable gain of 317% during these trading days. The total turnover during this period has been an impressive Rs. 2.6 Arba, positioning HRL as the top company with the highest turnover and a significant number of transactions totaling 216,365.00.
Price History:
Broker Analysis
Here are the Top 10 Stock Holding Brokers (As of Jan 08- Jan 11)
Board of Directors:
| Mr. Shekhar Golchha | Chairman |
| Mr. Shahil Agrawal | Director |
| Mr. Amit More | Director |
| Mrs. Sakshi Gupta | Director |
| Mr. Subash Jhunjhunwala | Independent Director |
Management Team:
| Ms. Upasana Poudel | Chief Executive Officer |
| Mr. Mukesh Kumar Kapoor | Deputy Chief Executive Officer |
| Mr. Manish Kumar | Executive Director |
| Mr. Deepak Kumar Shrestha | Executive Director |
| Mr. Shishir Gairhe | Executive Director |
